Redfin Co. (NASDAQ:RDFN) Given Consensus Rating of “Hold” by Brokerages

Shares of Redfin Co. (NASDAQ:RDFN) have earned an average recommendation of “Hold” from the twelve ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $9.16.

A number of equities analysts have weighed in on the company. Wedbush lifted their price objective on Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group lifted their price target on Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Susquehanna upped their price objective on Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. B. Riley lifted their target price on shares of Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th.

Redfin Trading Down 1.1 %

Shares of NASDAQ:RDFN opened at $7.34 on Monday. Redfin has a twelve month low of $5.10 and a twelve month high of $15.29. The company has a market cap of $910.01 million, a PE ratio of -5.73 and a beta of 2.64. The company’s 50 day moving average is $8.90 and its 200 day moving average is $9.26.

Redfin (NASDAQ:RDFN) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). The firm had revenue of $278.02 million for the quarter, compared to analysts’ expectations of $280.21 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. Equities research analysts predict that Redfin will post -1.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Christian John Taubman sold 16,333 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $8.44, for a total transaction of $137,850.52. Following the completion of the sale, the insider now directly owns 73,466 shares in the company, valued at approximately $620,053.04. The trade was a 18.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anthony Ray Kappus sold 8,417 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $8.43, for a total value of $70,955.31. Following the completion of the transaction, the insider now owns 29,978 shares in the company, valued at $252,714.54. The trade was a 21.92 % decrease in their position. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Creative Planning boosted its stake in Redfin by 8.1% during the third quarter. Creative Planning now owns 15,826 shares of the company’s stock worth $198,000 after buying an additional 1,181 shares during the period. Arizona State Retirement System lifted its holdings in shares of Redfin by 5.4% in the 2nd quarter. Arizona State Retirement System now owns 33,381 shares of the company’s stock worth $201,000 after acquiring an additional 1,710 shares during the last quarter. Hollencrest Capital Management purchased a new position in shares of Redfin during the 3rd quarter worth approximately $25,000. Financial Advocates Investment Management boosted its position in shares of Redfin by 21.6% during the 3rd quarter. Financial Advocates Investment Management now owns 11,815 shares of the company’s stock worth $148,000 after purchasing an additional 2,100 shares during the period. Finally, Blue Trust Inc. increased its holdings in Redfin by 285.7% in the 3rd quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock valued at $41,000 after purchasing an additional 2,446 shares during the last quarter. Hedge funds and other institutional investors own 61.07% of the company’s stock.

Redfin Company Profile

Redfin Corporation operates as a residential real estate brokerage company in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sell of home. It also provides title and settlement services; and originates and sells mortgages.